> Nobody is planning to ration electricity suppies.
If I search for "retail electricity price trends uk" I'm starting to see reports coming out of the UK like "UK electricity prices are now among the highest in the developed world." and "Household electricity prices have risen by almost 150% since 2010, and business electricity prices by nearly 175%" [0]. And now we see things like they've dropped below their 1970s per capita consumption.
That looks like rationing. Economies ration by raising prices until poor people can't consume as much. It doesn't sound like an efficiency gain. Mathematically speaking efficiency gains should actually involve people using more electricity [1] because there if it was worth spending that much money for X stuff now it makes even more sense because you can get >X stuff. It looks like they don't have enough energy and people are getting squeezed. I'd expect to see political instability in such an environment but the last time I checked only one of the major parties seemed to be in the process of collapsing (down from 2 in April) so they are doing better than expected on that front; I would expect riots in the streets with these sort of trends.
If I search for "retail electricity price trends uk" I'm starting to see reports coming out of the UK like "UK electricity prices are now among the highest in the developed world." and "Household electricity prices have risen by almost 150% since 2010, and business electricity prices by nearly 175%" [0]. And now we see things like they've dropped below their 1970s per capita consumption.
That looks like rationing. Economies ration by raising prices until poor people can't consume as much. It doesn't sound like an efficiency gain. Mathematically speaking efficiency gains should actually involve people using more electricity [1] because there if it was worth spending that much money for X stuff now it makes even more sense because you can get >X stuff. It looks like they don't have enough energy and people are getting squeezed. I'd expect to see political instability in such an environment but the last time I checked only one of the major parties seemed to be in the process of collapsing (down from 2 in April) so they are doing better than expected on that front; I would expect riots in the streets with these sort of trends.
[0] https://ifs.org.uk/publications/electricity-prices
[1] https://en.wikipedia.org/wiki/Jevons_paradox